Oregon § 292.040 Bond of payroll officer

Oregon Statutes

§ 292.040 — Bond of payroll officer

Oregon § 292.040

Vol.7

Title 28Public Financial Administration

Ch. 292Salaries and Expenses of State Officers and Employees

This text of Oregon § 292.040 (Bond of payroll officer) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 292.040 (2026).

Text

Before the superintendent, president or other officer of an institution, board or commission listed in ORS 292.039, forwards a payroll or receives from the Oregon Department of Administrative Services a warrant issued thereon, the superintendent, president or other officer shall file with the department a bond running to the State of Oregon, for the benefit of whomsoever it may concern, in such sum and amount as the department may require, not less, however than 50 percent of the probable aggregate amount of the monthly payroll nor more than $50,000, with an approved surety company as surety. The bond shall be conditioned that the superintendent, president or other officer will faithfully pay over the moneys received on the warrant issued by the department to the several parties entitled t

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Before the superintendent, president or other officer of an institution, board or commission listed in ORS 292.039, forwards a payroll or receives from the Oregon Department of Administrative Services a warrant issued thereon, the superintendent, president or other officer shall file with the department a bond running to the State of Oregon, for the benefit of whomsoever it may concern, in such sum and amount as the department may require, not less, however than 50 percent of the probable aggregate amount of the monthly payroll nor more than $50,000, with an approved surety company as surety. The bond shall be conditioned that the superintendent, president or other officer will faithfully pay over the moneys received on the warrant issued by the department to the several parties entitled thereto, and properly account for the same. The premium on the bond shall be considered an expense of the state and payable from any funds appropriated for the benefit of the institution, board, commission or state agency listed in ORS 292.039 (1).